BigLaw Partner Cuts Coming As Firms Miss Revenue Goals

Law360, New York (November 13, 2013, 6:58 PM EST) -- Significant cuts to BigLaw partnership ranks are on the horizon, according to a report released Monday, as many firms say they expect to miss their already modest revenue goals for the year.

About a fifth of firms surveyed for a quarterly report by Wells Fargo Private Bank's Legal Specialty Group said they are already in the process of shrinking at least one partnership rank or plan to do so in the first quarter of 2014.

The impetus is clear: About a third of firm managers indicated...
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